Hi,
Rent paid by a RD (Registered dealer) to a URD (Unregistered dealer) who is below the threshold limit and that is the reason he chooses to be URD. In such a senareio, does RCM apply.
7 Replies
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 27 July 2017
Yes RCM will be applicable
Nadir S
(25 Points)
Replied 28 July 2017
Okay! Apparently it means there is no threshold for rent received.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 28 July 2017
When paid to URD, the only limit is of 5000/-...
Nadir S
(25 Points)
Replied 28 July 2017
Implications, if rent is paid 3 times in a month (11th, 21st, 31st) that is division of month's rent to make sure each payment is below 5k. How likely the department will accept it if split payments are documented and actually paid 3 times in a month.
Nadir S
(25 Points)
Replied 28 July 2017
Implications, if rent is paid 3 times in a month (11th, 21st, 31st) that is division of month's rent to make sure each payment is below 5k. How likely the department will accept it if split payments are documented and actually paid 3 times in a month.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 28 July 2017
This is illogical..No comments......
Neha Jain
(Chartered Accountant)
(1085 Points)
Replied 28 July 2017
yes RCM will be applicable if total payment exceeds rs 5000 a day. Later you can avail ITC
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